Realty Income (NYSE:O) Sets New 12-Month High on Analyst Upgrade

Realty Income Co. (NYSE:O)’s stock price hit a new 52-week high during mid-day trading on Wednesday after Robert W. Baird raised their price target on the stock from $57.00 to $58.00. Robert W. Baird currently has a neutral rating on the stock. Realty Income traded as high as $61.41 and last traded at $61.23, with a volume of 1442706 shares trading hands. The stock had previously closed at $60.44.

Other research analysts also recently issued reports about the company. UBS Group boosted their price objective on Realty Income from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Scotiabank boosted their price objective on Realty Income from $54.00 to $56.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Stifel Nicolaus boosted their price objective on Realty Income from $65.00 to $67.50 and gave the company a “buy” rating in a research note on Tuesday. Mizuho boosted their price target on Realty Income from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, KeyCorp initiated coverage on Realty Income in a report on Wednesday, June 12th. They issued a “sector weight” rating on the stock. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Realty Income has a consensus rating of “Hold” and a consensus target price of $61.29.

Hedge Funds Weigh In On Realty Income

Hedge funds and other institutional investors have recently made changes to their positions in the company. SVB Wealth LLC grew its position in shares of Realty Income by 53.8% during the 4th quarter. SVB Wealth LLC now owns 7,656 shares of the real estate investment trust’s stock worth $440,000 after buying an additional 2,677 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Realty Income during the 4th quarter worth $379,000. Texas Permanent School Fund Corp grew its position in shares of Realty Income by 15.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 171,916 shares of the real estate investment trust’s stock worth $9,301,000 after buying an additional 22,440 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Realty Income by 4.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,343,159 shares of the real estate investment trust’s stock worth $77,124,000 after buying an additional 51,574 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Realty Income by 17.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,131,375 shares of the real estate investment trust’s stock worth $61,208,000 after buying an additional 171,166 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Realty Income Stock Up 1.7 %

The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $54.73 and a 200-day moving average price of $53.80. The firm has a market cap of $53.52 billion, a P/E ratio of 56.78, a P/E/G ratio of 5.05 and a beta of 0.96.

Realty Income (NYSE:O) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Realty Income had a return on equity of 3.26% and a net margin of 17.74%. The company’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 earnings per share. On average, equities analysts forecast that Realty Income Co. will post 4.2 EPS for the current fiscal year.

Realty Income Announces Dividend

The firm also recently declared a aug 24 dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be paid a $0.263 dividend. This represents a yield of 5.7%. The ex-dividend date of this dividend is Thursday, August 1st. Realty Income’s dividend payout ratio (DPR) is presently 291.67%.

Realty Income Company Profile

Realty Income, The Monthly Dividend Company, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats index. We invest in people and places to deliver dependable monthly dividends that increase over time. The company is structured as a real estate investment trust ("REIT"), and its monthly dividends are supported by the cash flow from over 15,450 real estate properties (including properties acquired in the Spirit merger in January 2024) primarily owned under long-term net lease agreements with commercial clients.